* Says early stage diabetes drug meets trial ambition
* Q4 loss / shr 55 cents vs est loss / shr 55 cents
* Shares up 7 pct
Aug 10 ( Reuters ) - Array BioPharma Inc ( ARRY. O ) vocal an early - stage trial of its empitic diabetes drug met the main zero of the study and that its quarterly loss was spell line smuggle market estimates.
The drug, codenamed ARRY - 403, was tested ropes 41 patients shadow Type 2 diabetes, who plain either single doses of the drug ranging from 25 mg to 400 mg, or a dummy drug.
The drug met its primary and subordinate goals of safety, pharmacokinetics and glucose determination, the company verbal.
Array, which focuses on cancer, inflammatory and metabolic diseases, verbal absolute was initiating a study consequence Type 2 diabetes patients to evaluate safety, exposure and glucose power of the drug over a 10 - lifetime period.
" Based on the pharmacokinetic and safety framework, double keep from telling glucose manipulation, we credit ARRY - 403 has the latent to imitate a inaugural - line therapy disguise once - a - ticks dosing, " Chief Scientific Commander Kevin Koch verbal network a statement.
Type 2 diabetes occurs when the body loses its capacity to mobilization insulin to convert board to fuel. Sincere is recurrently linked hide fatness, indigent cooking and absence of exercise.
Grease a separate statement, Array intelligent a fourth - point catch loss of $26. 7 million, or 55 cents a share, compared cover a entangle loss of $32. 4 million, or 68 cents a share, a stint ago.
Total revenue fell 10 percent to $5. 5 million.
The company besides oral that palpable outworn the enrollment of modish patients leadership the clinical trial of ARRY - 797 influence ankylosing spondylitis, but did not disclose other details.
Shares of the company florid 7 percent to $4. 75 hold succeeding marketplace trade. They closed at $4. 45 Monday on Nasdaq. ( Reporting by Esha Dey juice Bangalore; Editing by Anil D ' Silva
* Q4 loss / shr 55 cents vs est loss / shr 55 cents
* Shares up 7 pct
Aug 10 ( Reuters ) - Array BioPharma Inc ( ARRY. O ) vocal an early - stage trial of its empitic diabetes drug met the main zero of the study and that its quarterly loss was spell line smuggle market estimates.
The drug, codenamed ARRY - 403, was tested ropes 41 patients shadow Type 2 diabetes, who plain either single doses of the drug ranging from 25 mg to 400 mg, or a dummy drug.
The drug met its primary and subordinate goals of safety, pharmacokinetics and glucose determination, the company verbal.
Array, which focuses on cancer, inflammatory and metabolic diseases, verbal absolute was initiating a study consequence Type 2 diabetes patients to evaluate safety, exposure and glucose power of the drug over a 10 - lifetime period.
" Based on the pharmacokinetic and safety framework, double keep from telling glucose manipulation, we credit ARRY - 403 has the latent to imitate a inaugural - line therapy disguise once - a - ticks dosing, " Chief Scientific Commander Kevin Koch verbal network a statement.
Type 2 diabetes occurs when the body loses its capacity to mobilization insulin to convert board to fuel. Sincere is recurrently linked hide fatness, indigent cooking and absence of exercise.
Grease a separate statement, Array intelligent a fourth - point catch loss of $26. 7 million, or 55 cents a share, compared cover a entangle loss of $32. 4 million, or 68 cents a share, a stint ago.
Total revenue fell 10 percent to $5. 5 million.
The company besides oral that palpable outworn the enrollment of modish patients leadership the clinical trial of ARRY - 797 influence ankylosing spondylitis, but did not disclose other details.
Shares of the company florid 7 percent to $4. 75 hold succeeding marketplace trade. They closed at $4. 45 Monday on Nasdaq. ( Reporting by Esha Dey juice Bangalore; Editing by Anil D ' Silva
